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Get your taxes done using TurboTax
Yes. Student status is irrelevant; Dependent status Does matter. There's a special 28% capital gains rate on profit made from selling 'collectibles'. Capital gains are considered Passive Income. If he's your dependent, then max untaxed passive income he can have is $350. If he had a regular W-2 job, he could have up to $12k go untaxed.
‎June 7, 2019
5:39 PM